The conflict between Russia and Ukraine is ugly, to put it lightly. At the end of the day, the real victims in everything are the citizens and ordinary people that almost certainly don't want any problems.
The conflict between the two neighbouring countries is a result of lingering issues that have persisted for a long time. I know it has something to do with NATO, but I'd rather not get into that because I'm not a politician.
There have been numerous videos and pictures coming out of Ukraine about the situation. Things got so bad in Ukraine that the government was literally pleading for crypto donations on Twitter.
I still have my reservations about giving crypto to the government. However, in the case of Ukraine, it is understandable, particularly because the government have generally held a crypto-friendly position.
In fact, on the 2nd of June last year, Ukraine was described as trying to be "Cryptocurrency Central". According to the publication on Foreign Policy;
...Ukraine believes it has the answer: It’s betting big on cryptocurrencies. That could make the sorrow-stricken country a global hotbed of cutting-edge financiers. But the cryptocurrency moves could also spell trouble.
This was coming at a time when many people were concerned about the adverse effect that Bitcoin mining has on the climate. Ukraine dropped a middle finger to everybody and basically started pushing for crypto-friendly legislation.
In some way, countries like Ukraine, El Salvador and basically all the crypto-friendly destinations realised that the traditional system was fucked. For Ukraine, perhaps there wasn't enough time to accumulate, and with Russia at your throat, it's probably hard to think straight anyway.
Russia also feeling the heat
In an ironic twist, Russia recently expressed anti-crypto sentiments. Although it was later remixed by Putin, the truth is that President Putin probably doesn't like cryptocurrencies.
I think the Russian government holds crypto because everybody is doing it but I'm pretty sure they hate it. However, in the midst of this conflict, we can see how essential crypto can be, particularly for the citizens.
These days, it is hard to scroll through the internet without encountering 20 posts directly or indirectly related to the conflict between Russia and Ukraine. One of the latest trends, if you may, has been to cancel Russian-related institutions to generate internal pressure on the Russians.
I understand the point of not transacting with entities affiliated with Russia but I can't help but feel sad for them as well. The first one I saw was google cancelling a partnership with a Russian business because of the war.
The recent one was google and apple pay removing their services in Russia. You can imagine how bad this will be for people in the country.
Russian football clubs have been automatically eliminated from European tournaments because of the conflict. So many Russians are going to lose their jobs and lives will be destroyed through this process.
Don't get me wrong, I've seen images coming out of Ukraine, and it is a really heart-wrenching sight. Many have had to flee Ukraine, some are trapped in Ukraine and it is monumentally fucked.
I sincerely hope that this conflict will be sorted out, to prevent further losses on both sides of the divide.
Crypto doesn't make war
In the midst of the chaos, we can see, on the surface at least, why the world needs cryptocurrencies. A situation that we thought will be bearish for crypto turned out to be an eye-opener.
In Russia, for example, the Ruble has been dropping like shit from a running stomach. Normal people living in the country are watching their money lose purchasing power due to a conflict that they probably don't want.
Ukrainians didn't ask for this conflict, and neither did Russians. In everything, the citizens of both countries are suffering and only crypto can help in these trying times.
Over the years, every anti-crypto champion often leads with how crypto is used to buy weapons or something like that. yet, here we are, watching a fiat funded war that is causing pain to citizens.
Today, it is the Russian government but tomorrow, it could be your government. When you're overly dependent on fiat, you're exposing yourself to risk beyond your control.
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